Cyprus Cement enters concrete joint venture
The Cyprus Cement Company (CCC) has announced plans to create a joint venture with two other local companies for the production of ready-mix concrete. The company will invest 3.8 million Cyprus pounds ($7.67 million) into the project, reported ICR.
CCC will hold a 38 percent stake in the new company. Latouros Quarries will hold a 12 percent in the venture and Athinodorou Brothers will hold the remaining 50 percent. The new firm will carry out the production of ready-mix concrete, property development and the shipping of cement and quarry products.
CCC is a member of the Galatariotis Group of Companies and an associated company of Holcim Group. The company produces Ordinary Grey Portland cement and Portland-Pozzolana cement. — (menareport.com)
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